In the Revenue Cycle,the Internal Control "Limit Access" Applies to Physical

question 66

True/False

In the revenue cycle,the internal control "limit access" applies to physical assets only.

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Definitions:

Nuncupative

Pertains to a will that is declared orally by the testator in the presence of witnesses, usually under circumstances where a written will cannot be produced.

Prudence

Exercising caution or care in the management of resources or decision-making to avoid unnecessary risks.

Loyalty

A strong feeling of support or allegiance to a person, group, or cause.

Constructive Trust

A legal remedy imposed by a court to address unjust enrichment, where a person holding title to property is deemed to do so for the benefit of another.